What Happens When Bitcoin Miners Take Over Your Town

Re:What Happens When Bitcoin Miners Take Over Your Town by Nazare on Friday March 09, 2018 @12:32PM (#16553308)

Because miners would move to places where the electricity is cheap.

In theory you could always keep raising the price of electricity, because everybody needs to buy electricity to keep the lights on.

You can't have your cake and eat it too. You can't become a tax haven for international companies either, and then raise those taxes when you have some customers.

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Re:What Happens When Bitcoin Miners Take Over Your Town by skybrian on Friday March 09, 2018 @12:42PM (#16553402)

This doesn't explain why not.

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Re:What Happens When Bitcoin Miners Take Over Your Town by Nazare on Friday March 09, 2018 @12:50PM (#16553456)

Because long-term you'll end up with a situation, where your special profitable customers leave for greener pastures (those willing/able to pay higher fees) and your base customers can't or won't afford it.

Short-term they can make some money raises the prices, until supply-demand equilibrium is reached again. But then you shoot yourself in the foot for the long term.

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Re:What Happens When Bitcoin Miners Take Over Your Town by s73v3r_ on Friday March 09, 2018 @03:23PM (#16554671)

But your special profitable customers aren't paying anyway.

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